STOCKS TO WATCH – GRPN, IMPV

 

GRPN, IMPV, JPM, CLWR


Groupon (GRPN:NYSE) Despite the drama concerning the company’s financials, Groupon hasn’t turned into the next Pandora (P:NYSE) IPO bust just yet. Although shares have closed at their lowest point since the offering, today’s down market might have something to do with it. A bounce tomorrow might cause some naked shorts to cover, or some bottom fishers to actually fish. Today’s low of $22.76 could be used as a guide for support.

Imperva (IMPV:NASDAQ) IMPV was viewed as a flat to up slightly deal by some IPO services as recently as October. However, the interest heated up massively in the last week or so. IMPV was priced at $18, well above it’s expected range. My sense tells me if the broader averages did better today, this small float deal would have really ripped. Keep IMPV on you list of stocks for the near term.

JP Morgan (JPM:NYSE) As many of our followers know, we highlight JPM frequently because of it’s bell weather status. Today’s move of down more than 7% looks disturbing on the surface, but the volume, although heavy wasn’t overwhelming. Use the $31 area as support for now if long.

Clearwire (CLWR:NASDAQ) Seems to be back in the doldrums again. How many times do low priced NASDAQ spec traders need to be whipsawed in this name ? Shares of CLWR are at a critical point here, and a hold of the low $1.70′s could cause some of the cult buyers to average in.

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